$BTC
The Karachi Chamber of Commerce and Industry (KCCI) has proposed a plan to tax cryptocurrencies in Pakistan.
- *Tax cryptocurrencies like stocks:* Treat cryptocurrencies as securities and tax them at 15% on capital gains (profits made from selling).
- *Transaction tax:* Charge a 1% adjustable tax on cryptocurrency transactions to regulate the market and raise revenue.
- *One-time declaration:* Offer a one-time chance for people to declare their cryptocurrency assets and convert them to Pakistani Rupees (PKR) with minimal or no tax.
The International Monetary Fund (IMF) also recommends taxing cryptocurrencies under Capital Gains Tax to increase tax revenue. This is because cryptocurrencies aren't fully regulated yet in Pakistan.